Megasoft Limited informed that the company has on March 27, 2024 received assessment order/demand notice pertaining to Assessment year 2022-23 from the Income Tax Department. The Company has received the aforesaid order/notice pertaining to Assessment year 2022-23 amounting to a tax demand of INR 249.8 million citing certain disallowances. The Company shall prefer appeal against the assessment order with appellate authorities by filing necessary applications- accordingly, in the opinion of the management of the company, the demand raised is unsustainable in nature, and is unlikely to have material impact on financials, operations or other activities of the company.